How much super should you have at 60? The average super balance for Australians aged 60 to 64 is approximately $381,000 for men and $301,000 for women, based on ASFA’s analysis of ATO data. For couples, the combined average sits around $680,000.
But the average is not the target. The ASFA Retirement Standard (February 2026 update) says you need $630,000 as a single person or $730,000 as a couple for a comfortable retirement at 67. Most Australians at 60 are below that benchmark.
That gap between where you are and where you want to be is what this guide is about. At 60, you’ve reached preservation age, which means you can access your super tax-free once you meet a condition of release. The Age Pension is seven years away at 67. You’re at the most important checkpoint in your retirement journey, and the decisions you make in the next few years will shape the next 25 to 30.
The average super balance at 60: where Australians actually stand
Here’s how super balances compare across the age groups approaching and entering retirement:
| Age group | Average super — men | Average super — women | Combined couple estimate |
|---|---|---|---|
| 45 to 49 | ~$199,000 | ~$152,000 | ~$351,000 |
| 50 to 54 | ~$218,000 | ~$168,000 | ~$386,000 |
| 55 to 59 | ~$306,000 | ~$232,000 | ~$538,000 |
| 60 to 64 | ~$381,000 | ~$301,000 | ~$682,000 |
| 65 to 69 | ~$429,000 | ~$379,000 | ~$808,000 |
Source: APRA Quarterly Superannuation Statistics and ASFA analysis of ATO data. Figures are approximate averages. Averages are skewed upward by high-balance accounts. The median (where half of Australians sit above and half below) is typically 30 to 40% lower, meaning more than half of 60-year-olds have less than these figures suggest.
The gender gap is stark at 60. Women have approximately 21% less super than men on average. That gap is driven by career breaks for caring responsibilities, more years of part-time work, and historically lower wages. For single women approaching retirement, this makes the decade from 50 to 60 particularly important. Scott and Phil covered the specific challenges women face with super and retirement timing in Episode 17 of the podcast.
Please note: All figures and scenarios in this article are approximate and for illustrative purposes only. Individual outcomes will vary based on personal circumstances, investment returns, fees and current government policy. This is general information, not personal advice.
How much super should you actually have at 60?
The answer depends on what kind of retirement you’re planning for and when you plan to stop working.
The ASFA Retirement Standard (lump sums updated February 2026, spending figures updated quarterly) sets the following targets at age 67 for homeowners:
| Modest | Comfortable | |
|---|---|---|
| Single — annual spending | ~$36,700 | ~$54,840 |
| Couple — annual spending | ~$52,800 | ~$77,375 |
| Single — lump sum at 67 | $110,000 | $630,000 |
| Couple — lump sum at 67 | $120,000 | $730,000 |
These are targets at 67, not 60. If you’re planning to retire at 60, you need more, because your super has to fund seven extra years before the Age Pension starts. If you’re planning to work until 65 or 67, your current balance has more time to grow through contributions and investment returns.
Working backwards from the comfortable benchmark, and assuming 12% SG contributions on average full-time earnings plus balanced investment returns of around 6 to 7% per year, the ideal super balance at 60 looks roughly like $500,000 to $600,000 for a single person targeting a comfortable retirement at 67, $600,000 to $730,000 combined for a couple targeting the same, and $200,000 to $300,000 for a single person targeting a modest retirement (with the Age Pension doing most of the work from 67).
If you’re at $381,000 (the male average) or $301,000 (the female average), you’re within realistic reach of the comfortable benchmark if you keep working and contributing for a few more years. Seven years of SG contributions and balanced investment returns on a $350,000 balance can realistically grow to $550,000 to $650,000 by 67, depending on salary and returns.
The seven-year window: 60 to 67
At 60, you’ve got options. You can access your super (if you’ve retired or left an employer), but the Age Pension doesn’t start until 67. That seven-year gap is the central planning challenge.
If you retire at 60 with $400,000, you need that balance to fund seven years of living costs before the pension kicks in. Drawing $35,000 a year with balanced returns leaves you with roughly $200,000 to $250,000 at 67. At that level, you’d qualify for the full or near-full Age Pension, which pays $1,200.90 per fortnight for singles ($31,223 a year) or $1,810.40 for couples combined ($47,070 a year) as of 20 March 2026.
Source: Services Australia. Updated each March and September.
If you keep working until 65 or 67, the picture changes substantially. Every year you delay means more contributions, more growth, and fewer years of drawdown. The financial impact of even one extra year of work is significant. Scott and Phil covered this in Episode 19 of the podcast, showing how retiring just one year earlier can shift funding from lasting to age 105 to running out at 79.
Scott and Phil covered how preservation age, conditions of release and the “not quite yet” decision all work in Episode 18.
What to do if you’re above the average at 60
If your balance is $500,000 or above at 60, you’re ahead of most Australians. The priority shifts from accumulation to structure: how your super is invested for drawdown, how to bridge the gap to the Age Pension efficiently, and how to maximise your pension entitlement at 67.
Considerations at this stage: review your investment mix for the transition from accumulation to drawdown (a balanced approach with some growth exposure generally outperforms a full shift to conservative), understand how the assets test and deeming rates affect your pension eligibility at 67, and think about whether a transition to retirement pension makes sense if you’re reducing to part-time work.
For more on drawdown strategy, see our retirement planning page.
What to do if you’re below the average at 60
If your balance is under $300,000 at 60, you’re not alone (remember, more than half of Australians have less than the median). The priority here is making the most of the years you have left before accessing super.
Salary sacrifice in your final working years. Every dollar contributed at 15% tax inside super beats your marginal rate. The concessional cap is $30,000 for 2025-26, rising to $32,500 from 1 July 2026.
Use carry-forward contributions. If your balance is under $500,000 and you haven’t used your full concessional cap in recent years, the carry-forward rules let you contribute up to $175,000 in a single year from 2026-27. This is particularly powerful for anyone who had years of lower contributions due to career breaks or part-time work.
Consolidate multiple super accounts. More than 4 million Australians hold multiple accounts, each charging fees. Use the ATO’s myGov portal to find and merge lost accounts. Check insurance implications before closing old accounts.
Review your fund’s performance. Over 10 years, the gap between top and bottom balanced funds is 2 to 3% per year. On a $300,000 balance over 7 years, that compounds into approximately $60,000 to $80,000 in extra super. If your fund is consistently below the median, consider switching to a stronger performer. See our guide on the best super funds in Australia or which superannuation has the highest return for current data.
Check your investment mix. At 60 with 7 years until the Age Pension, you still have time for a balanced or growth option to work. Phil pointed out in Episode 22 of the podcast that what most funds call “balanced” is actually a growth portfolio with 70% or more in growth assets. Check what you’re actually invested in. Scott and Phil showed in Episode 1 how a conservative portfolio can run out 15 years earlier than a growth one on the same spending.
Consider working a few more years. Each extra year adds contributions, investment growth and one fewer year of drawdown. The combined impact at this stage is significant.
For more on contribution strategies, see our superannuation page.
The cost of being single at 60
At 60, single Australians face a compounding challenge. The cost of being single in retirement is approximately 42% more per person than being part of a couple. ASFA’s comfortable standard requires $54,840 a year for a single person versus $77,375 for a couple, or roughly $38,700 per person. Fixed costs like housing, utilities, insurance and car expenses don’t halve just because you’re alone.
For single women, the super gap compounds this. The average super for women aged 60 to 64 is approximately $301,000, compared to $381,000 for men. A single woman at 60 needs her super to stretch further, last longer (women’s average life expectancy at 65 is 88, versus 85 for men), and cover higher per-person costs.
The practical implications: if you’re single at 60, aim for $500,000 or above for a comfortable retirement, focus on maximising contributions in the remaining working years, and understand that the full single Age Pension ($31,223 a year) will be your primary income source from 67, with super as a supplement.
How the Age Pension changes the picture at 67
A single homeowner with assessable assets under $321,500 qualifies for the full Age Pension. For couples, the threshold is $481,500. The part pension extends up to $722,000 for singles and $1,085,000 for couples (current as at 20 March 2026).
This means even if you arrive at 67 with a depleted super balance, the Age Pension provides a baseline income. The ASFA modest retirement standard only requires $110,000 in super at 67 for singles and $120,000 for couples, because the pension does most of the work at that level.
Phil and Dan walked through real Age Pension case studies in Episode 10 of the podcast, and covered commonly missed pension opportunities in Episode 20. For more on how the Age Pension works with your super, see our pension and Centrelink page.
Want to see how your balance tracks against your retirement target? Try the free Wealthlab super calculator. For a broader readiness check, take the retirement quiz.
Frequently asked questions
How much super should I have at 60?
The average is approximately $381,000 for men and $301,000 for women aged 60 to 64. To be on track for a comfortable retirement at 67, ASFA recommends $630,000 for singles and $730,000 for couples. Most Australians at 60 are below the comfortable benchmark, but 7 years of continued contributions and investment growth can close much of the gap.
What is the ideal super balance by age in Australia?
Working backwards from ASFA’s $630,000 comfortable target for singles at 67, rough benchmarks are: $70,000 to $90,000 at 30, $140,000 to $180,000 at 40, $250,000 to $350,000 at 50, and $400,000 to $500,000 at 60. These are approximate and will vary based on income, contributions and investment returns.
Is $400,000 in super enough at 60?
$400K is close to the male average and above the female average. Whether it’s “enough” depends on when you plan to retire and what lifestyle you’re targeting. For a homeowner retiring at 67, $400K combined with 7 more years of contributions and growth puts you within reach of the ASFA comfortable standard. For retirement at 60, $400K funds a modest lifestyle during the gap years and qualifies you for a significant Age Pension from 67.
How does my super compare to other Australians at 60?
The average super for the 60-64 age group is $381,000 for men and $301,000 for women. The median is considerably lower (roughly $200,000 to $210,000), meaning more than half of Australians at 60 have less than those average figures. If you’re at or above the average, you’re in a stronger position than most. If you’re below it, the strategies above can help close the gap.
Can I still catch up on super at 60?
Yes. The carry-forward rules let you use unused concessional cap amounts from the previous five years if your balance is under $500,000. From 2026-27, the maximum carry-forward is $175,000. Combined with salary sacrifice at $32,500 per year (from July 2026), and potentially a downsizer contribution if you sell your home, there’s significant capacity to boost your balance in the final working years.
What is the cost of being single in retirement at 60?
The cost of being single is approximately 42% more per person than being part of a couple. ASFA estimates a comfortable single retirement costs $54,840 a year versus $77,375 for a couple ($38,700 per person). Fixed costs like housing, utilities and insurance don’t reduce when you’re on your own. Single women face an additional challenge with the super gender gap.
Should I retire at 60 or keep working?
It depends on your balance, spending expectations and health. Every extra year of work adds contributions, investment growth and one fewer year of drawdown. The financial impact of working to 62 or 63 versus 60 is significant on a balance of $300,000 to $500,000. But there are also non-financial considerations, including your health, sense of purpose and personal readiness for the transition. For more on the personal side, see our guide on when is the best time to retire.
What happens to super at 60 if I keep working?
Your super stays in accumulation phase and continues to receive employer contributions and earn investment returns. You don’t have to access it at 60 just because you’ve reached preservation age. Leaving it invested while you continue working is often the best strategy, as it gives the balance more time to grow.
Your next step
Knowing where you stand at 60 is the starting point. Whether you’re above average, below it, or right in the middle, the next 5 to 7 years are the highest-leverage window you have. Contributions are at their peak, compounding still has meaningful time to work, and the decisions you make about drawdown timing, investment mix and pension structuring will shape the next 25 years.
If any of this has raised questions about your own situation, book a free chat with the Wealthlab team. No pressure, no jargon.